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Toshiba Q3 profits boosted by smartphone surge

Increased sales of smartphone components pushed Toshiba profits to 12.4 billion yen (£95m) for the third quarter of fiscal year 2010 compared to a loss of 10.6 billion yen (£81m) in the same period last year.

The company said sales increased by 25.2 billion yen (£193m) to 1,588.5 billion yen (£12.2bn) in the period ending 31 December 2010. Operating profit of 37.5 billion yen (£287m) for the period was also up 23 billion yen (£176m) compared to 14.5 billion yen (£111m) in the same period last year.

Toshiba attributed its boosted profits to increased demand for LCDs and NAND flash memories, used in smartphone and tablet devices. Its electronic devices business generated 17.2 billion yen (£132m) in operating income after a loss of 6.6 billion yen (£51m) a year earlier, according to Reuters.

The latest Strategy Analytics report showed global shipments of smartphones reached 94 million units in the fourth quarter of 2010, an increase of 75% compared to the same period in 2009.

Smartphone shipments almost doubled since 2008, reaching 293 million units for the full year in 2010 compared to 151 million units in 2008.


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